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Name | Symbol | Market | Type |
---|---|---|---|
Global X Silver Miners New | AMEX:SIL | AMEX | Exchange Traded Fund |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.66 | 2.07% | 32.49 | 32.50 | 32.02 | 32.23 | 18,040 | 14:31:33 |
After peaking in April of 2011, silver prices have had trouble regaining their lofty levels. The white commodity has instead briefly flashed above the $04/mark in the late summer of 2011 before returning to a level around the $25/oz. range.
While the metal appeared to be back on track to start 2012, this soon dissipated as the dollar strengthened in the face of European woes and investors shunned commodities for stocks once more. However, this trend appears to be reversing yet again as silver prices have taken off in recent weeks and have finally breached the $30/oz. level for the first time in months (also see Platinum ETF Investing 101).
This recent bullish trend in the silver market is undoubtedly driven by the Federal Reserve. The central bank seems poised to initiate another round of QE in hopes of boosting sagging growth levels, although many believe that this will curtail the dollar’s value and boost precious metals in the process.
Furthermore, although the metal is more impacted by industrial events than its cousin gold, the metal is also more volatile due to its more ubiquitous nature and lower price point. This has allowed silver to greatly outperform gold in recent weeks and the trend could continue in a bull market phase for precious metals, making silver an intriguing choice at this juncture (read Silver ETFs Outshine Gold).
In fact, a recent look at the ETF space reveals a very interesting path for silver ETFs over the past few weeks. According to data from XTF.com, of the top eight best performing non-leveraged ETFs in the past month, five had a focus on silver.
This represents a pretty big reversal from many of these products performances’ over the trailing one year period in which all were down more than 20% in the time frame. Potentially, it suggest that a trend shift is underway in the silver market and that it could especially move if Bernanke and Company authorize another round of bond purchases before the year is over (read The Five Best ETFs over the Past Five Years).
For these reasons, it could be time for some investors to take a closer look at the silver market once again. Clearly, Bernanke is putting a floor underneath silver prices in the near term, and a robust recovery seems quite unlikely at this point, suggesting that more QE will probably be used sooner rather than later.
If investors are looking for an ETF approach, we have highlighted six of the top performing ETFs in the space—which have all added more than 13% in the last month-- briefly below. Any of these options could be great picks for investors seeking more silver exposure before more easing is inevitably unleashed on the economy:
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Long silver bullion
1 Year Global X Silver Miners Chart |
1 Month Global X Silver Miners Chart |
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